Brexit – UK Votes to Leave EU on January 31, 2020

British parliament has voted in favor of Prime Minister Boris Johnson’s plan for the UK to leave the EU on 31 January.

They voted 358 to 234 – a majority of 124 – in favor of the EU (Withdrawal Agreement) Bill, which now goes on to further scrutiny in Parliament. The bill bans an extension of the transition period – during which the UK is out of the EU but follows many of its rules – past 2020.

The EU would shrink from $19.1 trillion in GDP to about $16 trillion. China would have $14.7 trillion in GDP (including Hong Kong and Macau). The US would have about $21.8 trillion in GDP in January 2020 (was $21.54 in Q3 2019) .

China’s economy would be 91% of the remainder of the EU up from 77% of the EU. The EU would go from 89% of the US economy to about 73% of the US economy.

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